Levels to watch: FTSE, DAX and S&P 500

While the FTSE pushes higher, the same cannot be said of stock markets in Europe and the US. 

Data chart
Source: Bloomberg

FTSE 100 still in bullish territory

The longest FTSE winning streak since 1997 has not been kind to the bears. As was the case earlier in the week, we have yet to see signs of a bearish move which would only likely develop with a close below 7200, and ideally below 7170.

For the time being dips should continue to be bought and new all-time highs reached. 

DAX seeks to stop its drift

The index has drifted lower since the beginning of the month, and is now testing the 11,500 area that held as support at the beginning of the week. A move below here would head towards 11,325 and then 11,236.

If 11,534 holds then we could see a move back to 11,600 and then 11,650, the peak for the year so far.

S&P 500 testing new-found support

US markets have struggled since hitting a peak on Friday, with the S&P 500 now testing the 2260 area for support. A drop through here would head towards 2245 and then 2229.

A rally back to 2280 would then need to close above this level to initiate a new move into all-time highs. 

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.

Find an article

Find articles by writer